For the three and twelve months ended December 31, 2025, the Corporation reported a net income of $0.2 million or $0.01 per share and a net loss of $0.5 million or ($0.04) per share, compared to a net loss of $0.8 million or ($0.06) per share and net income of $0.4 million or $0.03 per share for the same periods in 2024, respectively.
Outlook
As previously reported, beginning in August 2023, the Corporation took steps to monetize a number of its investments in order to unlock the value which had been substantially realized, distribute capital to its shareholders and simplify its business. The monetization plan has met with considerable success and Wilmington is well positioned to continue to build on its past history of delivering attractive long-term returns to shareholders.
Wilmington announced on November 31, 2025, as part of its transition plan, the changes in its leadership team and board of directors. Effective December 31, 2025, Messrs. Chris Killi, Joe Killi and Marc Sardachuk stepped down from their respective roles as CEO, Chairman and director of the Corporation. Their leadership and commitment had been instrumental in building unique alternative investment platforms like land lease resorts and communities, self-storage facilities, marinas and delivering strong financial performance. Wilmington is grateful for their vision and stewardship throughout their tenure and wishes them every success in their future endeavors.
Mr. Andrew Cockwell assumed the role of Chairman and CEO and will help lead Wilmington into an exciting new chapter that ensures the Corporation continues to have a dynamic and successful future.
About Wilmington
Wilmington is a Canadian investment company whose principal objective has been to seek out investment opportunities in alternative asset classes which provided shareholders with capital appreciation over the longer term as opposed to current income returns. The Corporation invested its own capital alongside partners and co-investors, in hard assets and private equity funds and managed these assets through operating entities. Further information relating to the Corporation may be found on www.sedarplus.ca as well on the Corporation's website at www.wilmingtoncapital.ca.
CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
(audited)
Three months ended
Year ended
December 31,
December 31,
(CDN $ thousands, except per share amounts)
2025
2024
2025
2024
Management fee revenue
---
221
---
861
Distribution income
221
---
221
68
Interest and other income
207
474
1,032
1,807
428
695
1,253
2,736
Expenses
General and administrative
(742
)
(1,955
)
(2,369
)
(3,842
)
Amortization
(7
)
(7
)
(28
)
(28
)
Finance costs
(1
)
(1
)
(4
)
(5
)
Stock-based compensation
---
---
---
(18
)
(750
)
(1,963
)
(2,401
)
(3,893
)
Fair value adjustments and other activities
Fair value adjustments to investments
393
---
393
164
Gain from sale of investments
